Swedish carmaker Volvo said on Wednesday it had signed long-term battery supply ...
SEOUL/BEIJING - Swedish carmaker Volvo said on Wednesday it had signed long-term battery supply deals with Asian firms LG Chem and Contemporary Amperex Technology Co Ltd , as it pushes its EV target of 50 percent of sales by 2025.
Long-term battery supply arrangements are much-valued by carmakers and investors, as they help to clear supply bottlenecks at a time of soaring demand and hold out the promise of cheaper batteries over time. Volvo has said it plans to get half its sales from fully electric cars by 2025 and expects its margins on electric cars to match those of vehicles with combustion engines by that time.
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